MS no longer allows enrollment into the MPACT plan that locks in the tuition. They are planning to open it back up at some point but it won't be the same. Basically they figured out it was too good to be true. Fortunately I got my son enrolled a fee months before they closed it, so we are locked in.

quote:MS no longer allows enrollment into the MPACT plan that locks in the tuition. They are planning to open it back up at some point but it won't be the same. Basically they figured out it was too good to be true. Fortunately I got my son enrolled a fee months before they closed it, so we are locked in.

Samesies.

I'm on the 5yr university plan. Intending to send son to jr college for the first two years to save even more money though. Maybe he can use the difference for grad school.

re: Best Plan for Kid's College FundsPosted by Breadcrumbs on 10/7/13 at 11:08 am to Broke

quote:Because I made too much money to get the match

unless I'm misunderstanding the disclosure docs, any AGI of $100,000+ and above still gets a 2% match (called an earnings enhancement) plus a state tax deduction, unless the account owner is not related to the child beneficiary. We've never not gotten it.

But I know you have great trust for American Funds and that factored greatly into your decision.

re: Best Plan for Kid's College FundsPosted by Breadcrumbs on 10/7/13 at 3:40 pm to rmc

quote:I'm use to low expense ETFs.

quote:I hate the very limited selection.

Yeah, it's just low cost Vanguard index funds in LA Start. There's the 4 lifestyle options: conservative portlio, income portlio, moderate portfolio and growth portfolio. Then there's any combination you want of the Total Stock Index, Total World Index, Total Int'l Index, Mid-cap, Small Cap, and Large cap Indexes. Or the Louisiana Principal Protection Fund at 2.5%.

For actively managed funds, you'll pay more and have more choices elsewhere.

re: Best Plan for Kid's College FundsPosted by StinkBait72 on 10/7/13 at 3:54 pm to Broke

quote:quote: I plan on setting a couple up here soon for my son and daughter. Can the money be rolled into an IRA later on if the child never needs it for college?

No

So say the child gets a full ride or TOPS is still around (I doubt this) and their is more then what is needed in the fund. Is it just withdrawn with a penalty/tax, or is their anything else that can be done with it?